RINL is now a public limited company

Rashtriya Ispat Nigam Ltd was converted into a public limited company, according to a press release. At the extra ordinary general meeting, the shareholders approved this conversion. Mr A.P. Choudhary, the CMD, chaired the meeting. The RINL was registered as a private company according to the Companies Act, 1956. The present share value of Rs 1,000 is now split into Rs 10 a share along with adoption of a new set of Articles of Association & Memorandum of Association in line with a public limited company. Ms Sarita Taneja, the Under-Secretary of the Union Ministry of Steel and authorised nominee on behalf of the President of India, attended the meeting.